The global Wearable Healthcare Devices Market is expected to grow at a breakneck rate, registering a CAGR of 13% between 2022 and 2032. The global market was valued at US$ 16 billion in 2021 and is predicted to reach US$ 30 billion in 2026. Furthermore, the global wearable healthcare devices market is expected to reach approximately US$ 61 billion by the end of 2032. According to the most recent wearable device statistics, the global healthcare devices industry is expected to grow by 3.8X by 2032.
According to the Future Market Insights report, global sales of wearable healthcare devices are expected to expand at a staggering 13% CAGR between 2022 and 2032. The rising prevalence of chronic diseases, advancements in wearable medical devices, rising health awareness among people, and the increasing need for patients to keep track of vital parameters are some of the major factors expected to drive growth in the global healthcare devices market during the assessment period.
Concerns over the increasing mortality rate of cardiovascular diseases such as diabetes, obesity, heart attacks, and stroke are likely to drive demand for wearable medical devices throughout the forecast period, favouring the growth of the wearable healthcare devices market. According to the World Health Organization, almost 17.9 million people died from CVDs in 2019, with heart attacks and stroke accounting for 85% of deaths.
Key Manufacturers in the Wearable Healthcare Devices Market:
Medtronic PLC, Koninklijke Philips N.V, GE Healthcare, Fitbit Inc, OMRON Corporation, Abbott Laboratories, Garmin Ltd., Dexcom Inc., and Masimo Corporation.
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- Smart Clothing
- General Health and Fitness
- Remote Patient Monitoring
- Home Healthcare
By Device Type:
- Diagnostic and Monitoring Devices
- Vital Sign Monitoring Devices
- ECG/Heart Rate Monitors
- Blood Pressure Monitors
- Wrist Actigraphs
- Polysomnography Devices
- Traditional Diagnostic Tests
By Grade Type:
- Consumer-grade Wearable Healthcare Devices
- Clinical-grade Wearable Healthcare Devices
By Distribution Channel:
- Online Channel